The Analytical Overview of the Main Currency Pairs on 2019.02.26

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.13322
  • Open: 1.13583
  • % chg. over the last day: +0.19
  • Day's range: 1.13478 – 1.13674
  • 52 wk range: 1.1214 – 1.2557

The demand on the risky assets grew due to hopes that the US/China trading conflict will end soon. Donald Trump officially postponed the increase of fees on the Chinese wares and plans to meet with Xi Jingping to sign the trade aggreement.

The technical picture at EUR/USD remains ambiguous. EUR keeps trading in a long flat. The local support and resistance levels are 1.13400 and 1.13650. The investors are waiting for the statements by the Head of the Federal Reserve Powell about the state of the economy and the US monetary policy. You should open positions from the key levels.

The Economic News Feed for 26.02.2019:

  • - Real Estate Sales Report (US) – 15:30 (GMT+2:00);
  • - Consumer Trust Index by CB (US) – 17:00 (GMT+2:00);
  • - Statements by the Head of Federal Reserve (EU) – 17:00 (GMT+2:00);
EUR/USD

The indicators do not provide precise signals, the price is testing 50 MA which acts as a dynamic support.

The MACD histogram is in the positive zone but below the signal line, which gives a weak signal to buy EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is crossing the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.13400, 1.13200, 1.13000
  • Resistance levels: 1.13650, 1.14000

If the price fixes above 1.13650, the currency pair will grow toward 1.14000-1.14200.

Alternatively, the quotes can fall toward 1.13200-1.13000.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.30704
  • Open: 1.31083
  • % chg. over the last day: +0.48
  • Day's range: 1.31083 – 1.31613
  • 52 wk range: 1.2438 – 1.4378

GBP/USD finally started to grow after a long consolidation. During the last two days of trading, the pound strengthened against the USD by 80 points and almost reached the annual maximums. The demand on GBP is connected to the rumours about postponing Brexit, which is planned for March, 29. Right now GBP/USD is testing the local resistance at 1.31500 with 1.31000 acting as a mirror support. The trading instrument has prospects for further growth.

The Economic News Feed for 26.02.2019:

  • - Hearings at Bank of England regarding inflation (GB) – 12:00 (GMT+2:00);
GBP/USD

The indicators point to the power of the buyers, the price fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone and above the signal line, which gives a strong signal to buy EUR/USD.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line which also points to the bullish mood.

Trading recommendations
  • Support levels: 1.31000, 1.30400, 1.29800
  • Resistance levels: 1.31500, 1.32000

Should the price fix above 1.31500, expect the quotes to grow toward the round 1.32000.

Alternatively, the quotes can fall toward 1.30700-1.30400.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.31342
  • Open: 1.31863
  • % chg. over the last day: +0.41
  • Day's range: 1.31771 – 1.32170
  • 52 wk range: 1.2248 – 1.3664

USD/CAD retreated from the monthly minimums. The pressure on CAD is caused by the sudden drop in the oil quotes calua. Yesterday the WTI futures lost around 3% of their price. Right now the trading instrument is testing the local resistance at 1.32150 with 1.31850 acting as a near support. You should open positions from these levels but keep an eye on the reports from US, as well as the statements by the Head of the Federal Reserve.

The Economic News Feed for 26.02.2019 is calm.

USD/CAD

The indicators do not provide signals, the price fixed between 50 MA and 200 MA.

The MACD histogram is in the positive zone and keeps rising, which gives a strong signal to buy USD/CAD.

The Stochastic Oscillator is in the neutral zone, the %K line is below the %D line, which points to a bearish mood.

Trading recommendations
  • Support levels: 1.31850, 1.31500, 1.31150
  • Resistance levels: 1.32150, 1.32400, 1.32700

If the price fixes below 1.31850, you should look for market entry points to open short positions. TakeProfit is 1.31500-1.31300.

Alternatively, the quotes can grow further toward 1.32400-1.32700.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 110.650
  • Open: 111.029
  • % chg. over the last day: +0.24
  • Day's range: 110.753 – 111.075
  • 52 wk range: 104.56 – 114.56

Since the beginning of the week, USD/JPY has been trading rather actively. There is no defined trend. Right now the safe haven currency is consolidating at 110.750-110.900 with an ambiguous technical picture. The financial market participants are waiting for the statements by the Head of the Federal Reserve. Keep and eye on the US Treasury bonds yield and open positions from the key levels.

The Economic News Feed for 26.02.2019 is calm.

USD/JPY

The indicators do not provide precise signals, the price crossed 50 MA.

The MACD histogram is close to 0.

The Stochastic Oscillator is in the neutral zone, the %K line is above the %D line, which points to a bullish mood.

Trading recommendations
  • Support levels: 110.750, 110.600, 110.450
  • Resistance levels: 110.900, 111.100, 111.200

If the price fixes below 110.750, expect the quotes to fall toward 110.500-110.300.

Alternatively, the quotes can grow toward 111.200-111.400.

by JustForex, 2019.02.26

We recommend you to get acquainted with the daily overview of the news feed.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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